USDCHF - TECHNICAL STRUCTURE HINTING AT A POSSIBLE DECLINE

17 feb

Symbol - USDCHF

The USDCHF pair recently broke its upward trend following a shift in the fundamental backdrop, with the U.S. dollar entering a corrective phase. A potential set-up is forming on the chart that could reinforce this shift. The situation remains complex due to the ongoing tariff dispute initiated by President Trump, with European nations responding in kind, resulting in heightened economic risks. Additionally, after both Trump and Federal Reserve Chairman Jerome Powell hinted at the possibility of rate cuts, the dollar began its corrective movement, which is having a favorable impact on the forex market.

From a technical perspective, the 0.9000 level is of significant importance, as it constitutes a strong zone of support and resistance. Should the bears manage to maintain the price below this level, it would confirm a shift in trend and could trigger a downward movement. USDCHF may decline to 0.8900 - 0.8700 in the medium term perspective.

Key resistance levels: 0.9000, 0.9045, 0.9065
Key support level: 0.8915

While there remains the possibility that the price may revisit the range and test the 0.5 Fibonacci retracement, both technical and fundamental factors suggest a potential decline. Attention should be focused on the 0.9000 level.

19 feb

Trade attivo

CMP 0.9045

Retesting resistance line. Short position Active.

21 feb

Nota

Short position +70 pips in profit.
Holding with cost SL now.

26 feb

Trade chiuso: obiettivo raggiunto

Target has been reached.
+130 pips profit.

6 mar

Nota

CMP 0.8855

Both targets reached.